"The growth of auto hub and growth of IT/ITeS and BFSI industry has defined the growth of Chennai in last decade and will continue to drive migration and need for houses. Chennai which accounts for major share of US $ 185 bn investments in the State will lead to steady growth in jobs and rising need for houses," says Sunil Rohokale, CEO & Managing Director, ASK Group.

The report analyses the economic and infrastructure drivers that would impact the demographic growth of the Chennai metropolitan area. The study gives an outlook on the housing requirement and supply and its impact on prices.

"The housing requirement in Chennai is expected to be in the range of 30,000-35,000 houses annually. We expect prices to remain firm due to balanced demand-supply, while growth corridors are expected to witness upward bias in prices" said Amit Bhagat, CEO and MD, ASK Property Investment Advisors Ltd.

The PE fund has invested in two residential properties- Mantri Developers and Real Value Promoters, with expected revenue of Rs 725 crore in Chennai between December 2010 and March 2011 respectively. ASK Group has raised Rs.1300crore through its 2 domestic funds. Till date the group has invested Rs. 740 crore in 11 investments.

Latest Realty News

BANGALORE: After being summoned by chief minister Siddaramaiah, who was upset over reports of a land dealing in the BDA, its commissioner T Sham Bhat who on Tuesday promptly cancelled the allotment and sale deed done in favour of BDA Employees' Welfare Association.

BANGALORE: A day after Chief Minister Siddaramaiah was accused of “moral responsibility’’ for allowing the sale of Bangalore Development Authority land at throw-away prices to its employees’ association, the government set aside the sale.

BANGALORE: The new government with a clear majority and interest rates dropping seem to have given a boost to the Bangalore residential market. In the last couple of weeks the market has witnessed a surge in bookings, especially in the mid-segment market. What is interesting is that this surge is being driven by mid-level businessmen.

BANGALORE: During the release of the Annual Supplement 2013-14 to the Foreign Trade Policy 2009-14 on April 18, the Union Minister for Commerce, Industry and Textiles, announced reforms to the SEZ Policy in order to revive investor interest.

BANGALORE: Bangalore, which saw the launch of 35,500 residential units in 2012, is witnessing a similar trend in 2013 as well. Already in the first quarter (January-March) of this year, the city witnessed the launch of 8,000 residential units.

BANGLORE: Last year, around this time (mid 2012), the residential real estate price in Bangalore kissed sky high with Rs 33,000 per sq ft for an upscale project on the Vittal Mallya Road. Rough calculations pegged a 8,200 sq ft apartment in the project at about Rs 27 crore.